This
is a comprehensive study that evaluates the present dynamics and
growth trajectory of the global bunker fuel market in terms of
revenue and volume. The report predicts that the global bunker fuel
market is likely to reach an estimated volume of 460 million tons by
2020. The market, therefore, is poised to exhibit a moderate 3.1%
CAGR during 2014-2020, expanding from 372.30 million tons in 2013.
Bunker fuel is a fractionally distilled liquid fuel derived from
crude oil. Also known as fuel oil, the substance can be classified on
the basis of its chemical composition, intended purpose, and boiling
point. Unlike other petroleum products, bunker fuel is more polluting
and highly unrefined.
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Bunker Fuel Market Report with Full TOC at
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Apart
from fuel oil, there are other middle distillate fuels, which are
also used as bunker fuels. The cost incurred on fuel accounts for
approximately 70% of the overall voyage expense of a vessel. The
report states that a majority of ship operators are inclined toward
purchasing a large amount of bunker fuel that could last the entire
trip at once from the ports, where the prices are comparatively
low.There are two main kinds of fuel available in the global bunker
fuel market at present, namely residual and distillate fuel. Among
these, residual fuel accounted for a dominant share in global bunker
fuel consumption in 2013. With an increasing number of transit routes
being earmarked as ECAs or emission control areas, it is imperative
for vessel operators to modify their fuel consumption in the near
future. “A leading number of vessel operators will have to shift to
middle distillate or low-sulfur fuels to comply with the stringent
sulfur emission norms enforced across ECAs,” said a lead TMR
analyst.
The
bunker fuels sold by suppliers must meet the norms defined in
ISO8217. Bunker fuel is presently supplied by three major seller
categories: large independent bunker suppliers, small independent
bunker suppliers, and major oil companies. World Fuel Services
Corporation and Chemoil Energy Limited are the leading companies in
the sector and make available bunker fuel across major ports of the
world. Meanwhile, other companies such as Lukoil-Bunker LLC and
Gazpromneft Marine Bunker LLC supply bunker fuel only in a restricted
number of ports. With escalating demand for bunker fuel across
developing regions, Asia Pacific has emerged as the most lucrative
market for leading players in the global bunker fuel market. Demand
for bunker fuel is exceptionally high in China and Singapore, which
are also the leading contributors to the global bunker fuel market.
Asia Pacific is trailed by Europe in the global bunker fuel market on
the basis of consumption. Russia is strategically positioned within
the political boundaries of Europe, which has helped the country to
emerge as the largest supplier of the bunker fuel oil. Russia
supplies fuel oil across major ports in Europe at a reasonable price.
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Bunker
Fuel Market: Fuel Grade Analysis
- IFO 380
- IFO 180
- IFO Others
- MGO/MDO
Bunker
Fuel Market: End User Analysis
- Container Vessels
- Tankers Vessels
- Bulk & General Cargo Vessels
- Other Vessels
Bunker
Fuel Market: Seller Type Analysis
- Major Oil Companies
- Leading Independent Distributors
- Small Independent Distributors
Bunker
Fuel Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East
- Rest of the World (RoW)
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Article Of Bunker Fuel Market
http://www.transparencymarketresearch.com/article/bunker-fuel-market.htm
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